MBIA (MBI) Reports Q1 EPS of $0.45
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MBIA Inc. Reports First Quarter 2019 Financial Results
May 8, 2019 4:15 PM EDTPURCHASE, N.Y.--(BUSINESS WIRE)-- MBIA Inc. (NYSE: MBI) (the Company) today reported a consolidated GAAP net loss of $17 million, or $(0.20) per diluted common share, for the first quarter of 2019 compared to a consolidated GAAP net loss of $98 million, or $(1.12) per diluted common share, for the first quarter of 2018. The improved result was primarily due to the favorable variance of $110 million in loss and loss adjustment expense, which was largely due to the higher present-value of insurance recoveries on Puerto Rico credits.
Book value per share was $13.16 as of March 31, 2019 compared with... More
